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Dakar's property market is experiencing steady growth with apartments averaging 1.1 million CFA francs per square meter and luxury properties in Almadies reaching up to 5.5 million CFA/m². As of September 2025, the city offers diverse investment opportunities from budget-friendly options in Pikine to premium oceanfront villas.
Property prices vary significantly across neighborhoods, with total purchase costs including fees and taxes adding 17-20% to the base price. The market shows strong fundamentals with 5-7% annual growth and solid rental yields making Dakar an attractive destination for both residential buyers and investors.
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Dakar property prices range from 500,000 CFA/m² in budget areas to over 5 million CFA/m² in luxury districts like Almadies. The market shows consistent 5-7% annual growth with strong rental yields and stable political climate attracting investors.
Total purchase costs including all fees typically add 17-20% to the property price, while mortgage rates range from 6.5-8.5% annually for qualified buyers.
| Property Type | Average Price (CFA/m²) | USD Equivalent |
|---|---|---|
| Standard Apartments | 1,108,167 | $1,800 |
| Luxury Apartments (Almadies) | 3,500,000 - 5,500,000 | $5,700 - $8,900 |
| Houses (Average) | 593,333 | $960 |
| Prime Land (City Center) | 1,000,000+ | $1,620+ |
| Suburban Land | 500,000 - 1,000,000 | $810 - $1,620 |
| Budget Housing (Pikine) | 500,000 - 1,000,000 | $810 - $1,620 |
What are the current average property prices in Dakar by property type?
As of September 2025, Dakar's property market shows distinct pricing tiers across different property types.
Apartments in Dakar average 1,108,167 CFA francs per square meter (approximately $1,800/m²). Two-room apartments typically cost around 948,767 CFA/m², while five-room units reach 1,528,878 CFA/m². A standard 60-square-meter apartment costs between 77-80 million CFA francs ($125,000-$132,000).
Luxury apartments in premium areas like Almadies command significantly higher prices, ranging from 3.5 to 5.5 million CFA francs per square meter. These properties benefit from ocean views, proximity to embassies, and high-end amenities that justify the premium pricing.
Houses in Dakar have a median price of 593,333 CFA francs per square meter, though this varies dramatically by location. Standard 200-square-meter modern villas in sought-after areas command prices of $320,000 and above, while luxury villas in prime locations like Almadies trade much higher.
Land prices show the widest variation, with plots in city center or established districts often exceeding 1 million CFA francs per square meter, while outer suburbs and emerging areas range from 500,000 to 1 million CFA/m².
How do property prices vary between different neighborhoods in Dakar?
Dakar's neighborhoods display significant price variations based on location, amenities, and development status.
| Neighborhood | Price Range (CFA/m²) | Character |
|---|---|---|
| Almadies | 3.5-5.5 million | Most expensive, luxury, embassies, ocean views |
| Ngor | 2-3 million | High-end, renovation, limited supply, artists |
| Mermoz | 1.5-2 million | Gentrification, new transport, up-and-coming |
| Plateau | 1.1-1.5 million | Business district, regeneration, prestige |
| Sacré-Cœur | 1-1.4 million | Family-focused, good infrastructure |
| Point E | 900K-1.3 million | University proximity, strong rental demand |
| Pikine | 500K-1 million | Budget-friendly, local demand |
Almadies represents the pinnacle of Dakar's luxury market, driven by its oceanfront location, diplomatic presence, and exclusivity. Ngor and Plateau also command premium prices due to their central locations and established infrastructure.
Budget-conscious buyers typically target Pikine, Yoff, and peripheral areas where properties remain more affordable while still offering growth potential. Diamniadio, as a new town development, presents unique opportunities with prices ranging from 1-2 million CFA/m² as it develops into a major business hub.
What's the typical price per square meter for different property sizes and types?
Property pricing in Dakar follows clear patterns based on size, type, and quality specifications.
Luxury apartments in Almadies set the market ceiling at 3.5-5.5 million CFA francs per square meter, representing the absolute premium tier with ocean views and high-end finishes. Standard apartments across the city average around 1.1 million CFA/m², providing good value for middle-market buyers.
Houses show more variation with an average of 590,000 CFA francs per square meter, though this can rise to over 2 million CFA/m² in wealthy districts like Almadies and Ngor. The size of the property and its specific location within these districts significantly impacts the final price.
Affordable housing options, particularly in areas like Pikine and the outer suburbs, range from 500,000 to 1 million CFA francs per square meter. These properties offer entry points for first-time buyers and investors seeking rental income opportunities.
Land pricing varies from 500,000 CFA/m² in suburban areas up to over 2 million CFA/m² in prime central locations, with development potential and zoning regulations significantly affecting values.
What is the total cost of property purchase including all fees and taxes?
Property buyers in Dakar should budget for total costs of 16.75% to 20.5% above the purchase price to cover all mandatory fees and taxes.
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| Fee Type | Percentage | Purpose |
|---|---|---|
| Notary Fee | 0.75% - 4.5% | Legal documentation and registration |
| Land Registry | 6% | Official property registration |
| Stamp Duty | ~10% | Government transfer tax |
| Real Estate Agent | 5% - 8% | Professional services (usually seller pays) |
| Legal & Survey | 1% - 2% | Due diligence and property verification |
The land registry fee of 6% and stamp duty of approximately 10% represent the largest components of additional costs. Notary fees vary based on property value and complexity, while legal and survey costs ensure proper due diligence.
Buyers should avoid cash transactions unless conducted through a licensed notary to ensure proper legal protection and registration. The total additional cost of 17-20% means a property listed at 100 million CFA francs will actually cost 117-120 million CFA francs when all fees are included.
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What mortgage options are available and what are typical monthly payments?
Mortgage financing in Dakar is available to both residents and foreigners, though requirements are stringent and down payments substantial.
Bank mortgages typically offer terms of 10-25 years with interest rates ranging from 6.5% to 8.5% annually. Non-residents often face higher rates due to perceived risk factors. Most banks require down payments of 20-40% of the property value, significantly higher than many international markets.
For a typical 60-square-meter apartment costing approximately 78 million CFA francs, a 20-year mortgage at 8% interest would require monthly repayments of approximately 590,000-650,000 CFA francs plus mandatory property insurance. This calculation assumes a 30% down payment of about 23.4 million CFA francs.
Approval requirements include comprehensive income documentation, property insurance, and strong legal status in Senegal. Banks typically require borrowers to demonstrate income stability and may request additional guarantees for foreign applicants.
The mortgage market remains relatively underdeveloped compared to Western standards, with many transactions conducted in cash or through alternative financing arrangements between buyers and sellers.
Can you provide concrete examples of recent property purchases?
Recent property transactions in Dakar demonstrate the current market dynamics across different price segments.
A 60-square-meter apartment in central Dakar recently sold for 77-80 million CFA francs ($125,000-$132,000), representing typical pricing for standard residential units. These properties typically feature modern amenities and good access to transportation networks.
Luxury villa sales show significantly higher values, with a modern 200-square-meter villa reaching up to 321 million CFA francs ($527,000) in top-tier locations like Almadies. These properties command premium prices due to their exclusive locations and high-end specifications.
A modern 75-square-meter apartment in a sought-after district sold for 107 million CFA francs ($177,000), demonstrating the premium buyers pay for desirable locations and contemporary features. This price point reflects strong demand in established neighborhoods with good infrastructure.
Land transactions in areas like Yoff typically start from 15 million CFA francs for 100-200 square meter plots, offering entry points for buyers planning custom construction projects. These purchases often appreciate significantly as surrounding areas develop.
Which neighborhoods offer the best value and which are most expensive?
Dakar's neighborhood pricing reflects a clear hierarchy based on location, amenities, and prestige factors.
The most expensive neighborhoods include Almadies, which tops the market with luxury oceanfront properties and embassy proximity. Ngor, Plateau, and Mermoz also command premium prices due to their central locations, established infrastructure, and ongoing gentrification processes.
Budget-friendly options center around Pikine, outer zones of Yoff, Keur Massar, and emerging parts of Diamniadio. These areas offer significantly lower entry costs while maintaining growth potential as the city expands and infrastructure improves.
Best value neighborhoods include Sacré-Cœur, Fann, and Point E, which combine reasonable pricing with strong growth potential and good amenities. These areas offer the optimal balance of affordability and appreciation prospects for both investors and residents.
Fann particularly stands out for its green spaces and school proximity, while Point E benefits from university proximity creating steady rental demand. These neighborhoods represent smart choices for buyers seeking long-term value rather than immediate luxury.
What areas show the strongest investment growth potential?
Several Dakar neighborhoods demonstrate exceptional investment potential based on development plans and infrastructure improvements.
1. **Fann** - Green spaces, quality schools, and mid-to-high growth trajectory make it attractive for families and long-term investors2. **Diamniadio** - New infrastructure, future government and business hub development, large-scale residential estates3. **Rufisque** - Urban renewal projects, proximity to airport, rising values while remaining affordable4. **Yoff** - Airport proximity, authentic character, growing tourist interest5. **Mermoz** - Active gentrification, new transport connections, established infrastructure baseDiamniadio represents the strongest growth bet as Senegal's planned new administrative capital and business hub. Government investment in infrastructure and the relocation of key institutions drive this area's potential.
Fann offers more conservative growth with its established character and family-friendly amenities attracting steady demand. The combination of green spaces and educational facilities creates sustainable value drivers.
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Rufisque and Yoff benefit from their proximity to Blaise Diagne International Airport, with increasing connectivity boosting their attractiveness for both residential and commercial development.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Senegal versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
How have property prices changed over recent years?
Dakar's property market has shown consistent growth over both short and medium-term periods, with particularly strong performance in luxury segments.
Over the past year, property prices have increased by 5-7% citywide, with luxury areas experiencing growth up to 8%. This growth reflects steady economic development and continued urbanization pressures as rural populations migrate to the capital.
The five-year picture shows more dramatic appreciation, with overall prices rising 23% across the city. Almadies has seen 20% growth over this period, while commercial and newly developed zones have experienced increases up to 30%.
Apartment prices demonstrate this trend clearly - in 2020, average apartment prices stood at 900,000 CFA francs per square meter, compared to the current 1,108,167 CFA/m², representing substantial appreciation for existing property owners.
This growth trajectory reflects Senegal's political stability, steady economic growth, and Dakar's position as a regional business hub attracting international investment and development.
What are the forecasts for Dakar property prices?
Property price forecasts for Dakar show continued strong growth across multiple time horizons, driven by urbanization and economic development.
Over the next year, property prices are projected to increase by 6-8%, with premium and well-connected districts expected to outperform the market average. This growth reflects continued demand from both domestic buyers and international investors.
The five-year outlook projects cumulative appreciation of 30-50%, supported by steady urbanization trends and ongoing infrastructure development. Major transport projects and business district development should drive this sustained growth.
Long-term forecasts for the next decade suggest annual growth of 5-7% barring major economic downturns. The strongest performance is expected in areas benefiting from transport improvements and business development projects, particularly around Diamniadio and upgraded transportation corridors.
These projections assume continued political stability, steady economic growth, and successful implementation of planned infrastructure projects that enhance connectivity and business opportunities throughout the metropolitan area.
How does Dakar compare to other major West African cities?
Dakar's property market positions favorably within the West African context, offering stability and value compared to regional competitors.
| City | Avg. Land Price (USD/m²) | 3-Bed Annual Rent (USD) | Market Character |
|---|---|---|---|
| Lagos | $765 | $32,200 | Most expensive, volatile |
| Abidjan | $601 | $27,429 | French investment, strong |
| Dakar | $273 | $26,200 | Stable, safe, strong yields |
| Accra | $180-220 | $17,515 | Dollarized, expat hub |
| Freetown | $150-200 | $26,200 | High yields, limited supply |
| Bamako | $100-150 | $12,000 | Lower prices, security issues |
Dakar offers excellent value compared to Lagos and Abidjan while maintaining competitive rental yields similar to much more expensive markets. The city provides prime capital safety, good yields, and political stability that many regional competitors cannot match.
While Lagos commands the highest prices in the region, it also experiences significant volatility and security concerns. Dakar's moderate pricing combined with stable governance makes it attractive for long-term investors seeking steady returns without excessive risk.
What are the smartest property investment strategies in Dakar today?
Optimal property investment strategies in Dakar depend on specific goals, with different neighborhoods and property types suited to various objectives.
For buy-to-live purposes, Sacré-Cœur, Fann, Point E, and Plateau offer the best combination of comfort, schools, amenities, and growth potential. These areas provide quality of life while maintaining investment value through steady appreciation.
Short-term rental investors should focus on Almadies, Ngor, and Plateau, which generate strong yields of 7-10% due to tourist and business visitor demand. These areas command premium rental rates and maintain high occupancy levels throughout the year.
Long-term rental strategies work best in emerging areas like Diamniadio, Yoff, and Pikine, where demand from urban migration creates steady tenant pools. These areas offer potential for both rental income and significant capital appreciation as development progresses.
For resale-focused investments, districts benefiting from new transport infrastructure like Diamniadio and Fann, upmarket gentrification areas like Mermoz, and zones with ongoing government or business projects offer the best future upside potential.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Dakar's property market offers compelling opportunities for both residents and investors, with prices ranging from budget-friendly options in emerging areas to luxury properties commanding premium prices in established districts.
The combination of steady 5-7% annual growth, strong rental yields, political stability, and ongoing infrastructure development makes Dakar an attractive destination in the West African property landscape.
Sources
- The AfricanVestor - Senegal Price Forecasts
- The AfricanVestor - Dakar Price Forecasts
- PropertyStar - Dakar Region House Prices
- The AfricanVestor - Buy Land Senegal
- The AfricanVestor - Dakar Property
- The AfricanVestor - Senegal Which Area
- Meret Demeures - Seaside Property Senegal
- Loger Dakar - House for Sale
- PropertyStar - Senegal House Price
- Numbeo - Property Investment Dakar